SMM5, May 5: on Monday, Aurubis, Europe's largest copper smelter, acquired Metallo, a metal recycling company, with the approval of the European Union's antitrust regulator.
The EU antitrust regulator said the deal would not have a negative impact on the copper recycling industry.
Aurubis said in May 2019 that it had agreed to buy Metallo Group, a metal recycling company, for 380 million euros ($412 million) as part of its plans to expand into metals other than copper.
Metallo, which focuses on recycling materials that are low in metal content and difficult to handle, has great potential for growth.
Metallo disposes of approximately 220000 tons of waste and recycled materials each year in Belgian factories and an additional 95000 tons in Spanish plants; Metallo employs approximately 530 people in Belgium and Spain.
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